minus_log_likelihood

minus_log_likelihood,diseq_basic-method

minus_log_likelihood,diseq_deterministic_adjustment-method

minus_log_likelihood,diseq_directional-method

minus_log_likelihood,diseq_stochastic_adjustment-method

minus_log_likelihood,equilibrium_model-method

object

<p>A vector of parameters at which the function is to be evaluated.</p>

parameters

<p>Returns the opposite of the log-likelihood. The likelihood functions are based on
Maddala and Nelson (1974) 10.2307/1914215. The likelihoods expressions
that the function uses are derived in
Karapanagiotis (2020) 10.2139/ssrn.3525622. The function calculates
the model's log likelihood by evaluating the log likelihood of each observation in
the sample and summing the evaluation results.</p>

Superseded by package markets. Provides estimation methods for
markets in equilibrium and disequilibrium. Supports the estimation of an
equilibrium and four disequilibrium models with both correlated and
independent shocks. Also provides post-estimation analysis tools, such
as aggregation, marginal effect, and shortage calculations. The estimation
methods are based on full information maximum likelihood techniques given
in Maddala and Nelson (1974) <doi:10.2307/1914215>. They are implemented
using the analytic derivative expressions calculated in
Karapanagiotis (2020) <doi:10.2139/ssrn.3525622>. Standard
errors can be estimated by adjusting for heteroscedasticity or clustering.
The equilibrium estimation constitutes a case of a system of linear,
simultaneous equations. Instead, the disequilibrium models replace the
market-clearing condition with a non-linear,
short-side rule and allow for different specifications of price dynamics.

minus_log_likelihood: Minus log-likelihood.

Description

Usage

Arguments

Value